India’s job market set to rebound as the pandemic situation improves and the festive season approaches

Coronavirus left a huge impact all over the world. Especially most affected areas were the tourism industry, food industry, IT industry, and aviation along with small businesses that are dependent on low margins. Even some industries like housing and sales also impacted on a high scale.

The battle against coronavirus pandemic has resulted in huge job losses. Impact of COVID-19 on the global world of work says the effects will be far-reaching, pushing millions of people into unemployment, underdevelopment, and working poverty. There are severe job losses across different sectors in India and still, coronavirus impacts continue for few more months.

Throughout the COVID-19 pandemic, businesses and governments faced the need to solve multiple, competing priorities simultaneously. One of the toughest parts is that how to keep an economy going well while at the same time lockdown is necessary to protect citizens from coronavirus. As some regions emerge from the worst of the health crisis, it’s tempting to think that there could be a return to focusing on just one main concern. But after lots of efforts by doctors and researchers countries are trying to overcome this pandemic and coming back to work.

India’s job market took a massive hit in the wake of the COVID-19 pandemic. Barely had the dust settled when the country was fighting with the second wave of coronavirus. Sales fell, losses climbed, and businesses shut down, leading to a spike in unemployment rates. According to Naukri.com’s monthly index, hiring activity declined by 15% in April 2021.

Now as the economy started to bounce back on its field, certain “green shoots” are being observed in the hiring scenario. According to the Center for Monitoring the Indian Economy (CMIE), the unemployment rate declined to 9.2 percent in June 2021 as compared to 11.9 percent in May 2021. It’s a matter of great pleasure for the country. Despite all the difficulties, everything turned out well and is getting better. May this fall will be over soon and everything will before. As lockdowns are being lifted, the vaccination process is started and the festivals are on the horizon, hiring is picking up across other industries, and firms trying to bring back the migrant workforce.